Recently formed cyber security ‘supergroup’ CyberCX has made another acquisition in Australia, bagging Melbourne player Basis Networks for an unspecified sum.
The private equity-backed firm claimed the deal will allow it to grow its network security, managed services, integration and engineering capabilities across Australia and New Zealand.
Formed in Melbourne in 2015, Basis Networks is partnered with the likes of Cisco, Palo Alto, VMware, Aruba, Juniper Networks and Forescout, and counts the likes of Australia Post, JB Hi Fi, and Bupa as customers.
According to CyberCX CEO John Paitaridis, who recently left his role as Optus Business to lead the BGH-backed firm, the deal presents a “significant opportunity” for the company.
“Organisations are looking for a trusted sovereign partner to help them manage their cyber security risk,” he said. “A combination of COVID-19 and recent targeted attacks from state-based actors reinforces the need for Australian businesses and government to urgently uplift cyber security capability.”
“Corporate networks represent a key vulnerability for Australian businesses, especially with a large proportion of the economy engaged in remote working. Basis Networks’ reputation for providing highly secure network infrastructure and cloud solutions will strengthen CyberCX’s position as Australia’s leading cyber security service provider.”
The announcement follows recent investments by CyberCX, including the acquisition of another Melbourne-based cyber security specialist – Identity Solutions.